Survey says: We need jobs

By TIM RONALDSON

Business owners in the region overwhelmingly believe the local economy is stable, but they also cite unemployment as the major contributing factor holding back its full-fledged recovery.

According to The Alloy Silverstein Group’s quarterly survey of more than 1,500 New Jersey and Philadelphia CEOs and CFOs, 65 percent of respondents believe the local economy is stable, but 48 percent believe jobs are today’s most important local economic issue.

“Businesses are stabilizing and economic factors are positive, yet no one is hiring,” said Ren Cicalese, the firm’s managing shareholder. “Whether you blame reports by the media, the talking heads in Washington or economic factors such as rising prices, it seems as though everyone is waiting for the recovery to fail.”

Among the same respondents who rank unemployment as the biggest issue prolonging the recovery effort the most, only 18 percent are currently hiring, only 15 percent have plans to hire in the next year, 61 percent say they have no plans to add staff.

“Everyone has a different excuse not to hire,” Cicalese said.

In general, New Jersey still likes Gov. Christie, consumer confidence is “shaky at best,” and prices on goods and services are rising. With respect to federal legislation, 72 percent agree with the repeal of the expanded 1099 reporting requirements.

Here are the full responses, broken down by category:

To what degree is the impact of the increased fuel prices affecting your business operations?

• Minor: 56 percent

• Major: 23 percent

• Neutral/No effect: 15 percent

• No Answer: 6 percent

Do you think the current economic recovery can sustain the repercussions of increased oil and food prices, or do you anticipate a double-dip recession?

• Double-Dip: 40 percent

• Unsure: 37 percent

• Sustain Recovery: 19 percent

• No Answer: 4 percent

The housing market has become a key indicator of the state of our economy. What do you see the current status as?

• Continuing To Decrease: 48 percent

• Stabilize/Bottomed Out: 44 percent

• Beginning To Improve: 4 percent

• No Answer: 4 percent

President Obama recently signed a bill to repeal expanded information reporting requirements using Form 1099. Do you agree with this repeal?

• Yes: 67 percent

• No Answer: 29 percent

• No: 4 percent

What issue would you say is prolonging the recovery efforts the most?

• Unemployment: 33 percent

• Consumer Confidence/Wariness: 15 percent

• Oil Prices: 13 percent

• Real Estate: 11 percent

• National Deficit: 8 percent

• Lack of Political Unity: 8 percent

• Wars: 4 percent

• Cost of Consumer Goods: 2 percent

• Misreporting By the Media: 2 percent

• Impending Inflation: 2 percent

• Natural Disasters: 2 percent

As both a consumer and a business owner, how would you describe consumer confidence since the 2008 recession?

• Decreased: 48 percent

• Increased: 38 percent

• No Change: 12 percent

• No Answer: 2 percent

A year after Christie’s policies have begun to be implemented, are you more satisfied with New Jersey as a business location?

• Yes, More Satisfied: 42 percent

• No, Just As Satisfied: 17 percent

• No, Less Satisfied: 17 percent

• No Answer: 14 percent

• Still Unsatisfied: 10 percent

The Delaware River Port Authority is increasing toll prices effective July 1. Do you foresee this affecting your business operations?

• No: 79 percent

• Yes: 19 percent

• No Answer: 2 percent

Does your business plan on hiring in the next:

• No Plans To Hire: 61 percent

• Currently Hiring: 18 percent

• 3-6 months: 11 percent

• No Answer: 6 percent

• 6-12 months: 4 percent

Is the local economy:

• Stable: 65 percent

• Slipping: 21 percent

• Getting Better: 14 percent

Is your company:

• Stable: 54 percent

•Slipping: 25 percent

•Getting Better: 17 percent

•No Answer: 4 percent

What is today’s most important issue?

• Jobs: 48 percent

• Taxes: 33 percent

• Health care: 9 percent

• Impending Inflation: 6 percent

• The Deficit: 2 percent

• No Answer: 2 percent

About Tim Ronaldson

When I first joined Elauwit, I figured I’d be here for two years, tops, before advancing my career in journalism somewhere else. That was 2005. Great job or lack of motivation? You decide. | View all posts by Tim Ronaldson

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